Zedge, Inc. (NYSEAMERICAN:ZDGE) Shares Shorted: Short Interest Down 43.3% in September

Zedge, Inc. (NYSEAMERICAN:ZDGE) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 37,971 shares, a decline of 43.3% from the September 15th total of 66,926 shares. Based on an average daily volume of 59,038 shares, the short-interest ratio is presently 0.6 days. Approximately 0.4% of the company’s shares are sold short.

Zedge Stock Performance

Shares of ZDGE traded down $0.02 on Thursday, reaching $2.72. The stock had a trading volume of 22,233 shares, compared to its average volume of 94,309. Zedge has a 12-month low of $2.21 and a 12-month high of $4.70. The company has a 50-day simple moving average of $2.97 and a 200-day simple moving average of $3.03. The firm has a market capitalization of $34.11 million, a price-to-earnings ratio of -30.20 and a beta of 1.20.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Hillsdale Investment Management Inc. grew its stake in shares of Zedge by 1,982.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 50,653 shares of the company’s stock worth $148,000 after buying an additional 48,221 shares in the last quarter. NewEdge Advisors LLC increased its stake in Zedge by 2,923.0% in the 1st quarter. NewEdge Advisors LLC now owns 58,918 shares of the company’s stock worth $173,000 after buying an additional 56,969 shares during the period. Finally, Kahn Brothers Group Inc. purchased a new stake in shares of Zedge in the second quarter valued at approximately $242,000. Institutional investors own 29.37% of the company’s stock.

Zedge Company Profile

Zedge, Inc operates a digital content marketplace that enables users to discover, personalize and share content for mobile devices. Its flagship Zedge platform offers wallpapers, ringtones, notification sounds, app icons, fonts and other personalization products, including content created by independent artists and other members of its community.

The company provides its services through mobile applications and online platforms, with products available to users internationally. Zedge also offers premium digital content and tools designed to help creators distribute and monetize their work.

Founded in 2003, Zedge has expanded beyond mobile personalization through digital entertainment and creator-focused offerings.